Warby Parker

Prescription Eyewear and Sunwear

About Warby Parker

A collaboration between four close friends, Warby Parker was conceived as an alternative to the overpriced and bland eyewear available today. Prescription eyewear simply should not cost $300+. The industry is controlled by a few large companies that have kept prices artificially high, reaping huge profits from consumers who have no other options. By circumventing traditional channels and engaging with customers directly through their website, Warby Parker is able to provide high-quality, beautifully designed prescription eyewear for $95.

Even at $95, there are almost a billion people without access to glasses, so for every pair sold, Warby Parker provides one to someone in need.

The Warby Parker aesthetic is vintage-inspired, with a fashion forward twist - and every pair is custom fit with anti-reflective, polycarbonate prescription lenses.

By serving multiple stakeholders, Warby Parker is able to “Do Good” and run a successful business. Being a B Corporation allows Warby Parker to account for the commitments they are making to their customers, their employees, the environment and the community at large.

The Change We Seek®

At Warby Parker, they want to build a company that has a positive impact. They hope to disrupt the optical industry, which has been over charging consumers for decades and in the process serve as an example of a business that can do well and do good. Warby Parker has adopted a stakeholder-centric business model that accounts for their customers, their employees, the environment, and their larger community. They try to consider these stakeholders in every decision that they make.

Warby Parker loves their customers.They treat their customers the way we want to be treated. They love beautiful glasses, but hate paying hundreds of dollars for them, so they found a way to deliver the glasses we love at a fraction of the price. Likewise, Warby Parker is doing everything possible to make shopping for glasses fun and easy.

They want our employees to flourish.They believe that we should take what we do seriously, but not take ourselves too seriously. Warby Parker strives to create an environment where their team will flourish — one that is fun, open and growth-driven. Monthly informal feedback sessions and quarterly 360° reviews ensure that individuals are each responsible for one another’s professional and personal growth.

They serve our broader community.They believe that every person should have access to affordable glasses. Studies have shown that a simple pair of glasses can increase productivity for an individual by 20%, providing greater opportunity for education and income. For every pair of glasses that Warby Parker sell, they give a pair to someone in need. They truly believe they're part of a larger community and should proactively serve that community whether it’s through their Buy a Pair, Give a Pair program or by sponsoring a local Little League team.

They are carbon neutral.They actively work to reduce their environmental impact. In fact, they are one of the only carbon-neutral eyewear brands in the world. Warby Parker has mapped out all of their greenhouse gas emissions from frame production to shipping to warehousing to office work and have purchased carbon offsets accordingly.

What makes us a better company?

B Impact Report

Certified since:

May 2011

Summary:

Company Score

Median Score*

Environment

Environment

The Environment section of the Assessment evaluates a company's environmental performance through its facilities; materials, resource, and energy use; and emissions. Where applicable, it also considers a company's transportation/distribution channels and environmental impact of its supply chain. This section also measures whether a company's products or services are designed to solve an environmental issue, including products that aid in the provision of renewable energy, conserve resources, reduce waste, promote land/wildlife conservation, prevent toxic/hazardous substance or pollution, or educate, measure, or consult to solve environmental problems.

5

9

Workers

Workers

The Worker section of the survey assesses the company's relationship with its workforce. This section measures how the company treats its workers through compensation, benefits, training, and ownership opportunities provided to workers. It also focuses on the overall work environment within the company through management/worker communication, job flexibility and corporate culture, and worker health and safety practices.

27

22

Customers

Customers

The Customers section of the Assessment measures the impact a company has on its customers. The section focuses on whether a company sells products or services that promote public benefit, and if those products/services are targeted towards serving underserved populations. Questions in this section will measure whether a company's product or service is designed to solve a social or environmental issue (e.g. improves health, preserves environment or creates economic opportunity to individuals or communities, promotes the arts/sciences, or increases the flow of capital to purpose-driven enterprises).

44

N/A

Community

Community

The Community section of the survey assesses a company's impact on its community. The Community section evaluates a company's supplier relations, diversity, and involvement in the local community. The section also measures the company's practices and policies around community service and charitable giving. In addition, this section includes if a company's product or service is designed to solve a social issue, including access to basic services, health, education, economic opportunity, arts, and increasing the flow of capital to purpose-driven enterprises.

17

32

Governance

Governance

The Governance section of the Assessment evaluates a company's accountability and transparency. The section focuses on the company's mission, stakeholder engagement, and overall transparency of the company's practices and policies.

Company Highlights:

Workers: Living wage paid to all full time part time employees; 100% of full time employees recieve bonus; >80% of health insurance premiums covered; >15% job growth rate; 100% of full time employee participate in external professional development

Consumers: One-for-one give back program benefits people in emerging markets those unable to afford glasses

Community: 30-40% of management is from previously excluded populations; 25-49% of employees participate in company organized service day